1st Annual Board Meeting:
- determination of the presence of a quorum
- Unit 1 – Johnathan Mills
- Unit 3 – Tracy-Ann Ulett
- Absent – unit 4 – Dakota Key
- Unit 5 – by proxy – Trent D Heminger
- Unit 6 – Jill Hallgren & Katherine Drapcho
- A quorum is present.
- election of directors
- the association must elect a president, treasurer and secretary. The association can fill / create other positions, but those are the three that must be filled. Please see the association bylaws for an explanation of each position.
- Treasurer has been unanimously been appointed – Unit 1 – Johnathan Mills
- Secretary has been unanimously been appointed – Unit 6 – Katherine Drapcho
- President has been unanimously been appointed – Unit 3 – Tracy-Ann Ulett
- new business / association to-dos
- apply for tax ID # at www.irs.gov – Trent & Co has already done this for the association
- set up a bank account – the association needs to decide which bank it is going to use. We suggest the association uses a “big” bank and not a credit union or small local bank as they service these types of accounts more often and won’t be confused.
- The group has chosen to use Bank of America as the official bank of the association.
- All the association / treasurer needs to start an account is:
- take tax ID (EIN)
- bylaws
- minutes from the meeting approving the bank account
- the association does NOT need a business license or anything else but the three items outlined above to open a bank account
- transfer utilities from the developer’s LLC to the association
- water, trash, gas, Pepco, master insurance policy
- the association needs to decide who is going to be responsible to transferring each common utility
- Master insurance – to be transferred by D’Ann
- Unit 1 will do transfer the rest of the 4 common bills
- Pepco will be transferred once final meters are installed.
- unfinished business
- there is no unfinished business with the developer regarding bills
- assess condo fees due – refer to capital contribution checks from each unit’s settlement.
Demonstration for the access and security system. – we will have Matt get in touch to get this scheduled